Shopify Inc. (TSE:SHOP – Get Free Report) fell 4.9% during mid-day trading on Wednesday . The stock traded as low as C$164.40 and last traded at C$165.29. 906,794 shares were traded during trading, a decline of 55% from the average session volume of 2,012,463 shares. The stock had previously closed at C$173.74.
Analyst Upgrades and Downgrades
SHOP has been the subject of several recent research reports. ATB Cormark Capital Markets reduced their price target on Shopify from C$250.00 to C$240.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Wells Fargo & Company dropped their price objective on Shopify from $191.00 to $166.00 and set an “overweight” rating on the stock in a research report on Monday, April 6th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$206.33.
View Our Latest Research Report on Shopify
Shopify Stock Performance
Shopify (TSE:SHOP – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported C($0.63) earnings per share for the quarter. Shopify had a return on equity of 10.70% and a net margin of 10.94%.The business had revenue of C$4.41 billion for the quarter. Equities research analysts predict that Shopify Inc. will post 1.9256156 EPS for the current fiscal year.
About Shopify
Shopify provides essential internet infrastructure for commerce. Shopify’s all-in-one platform makes it easier to start, run, and grow a business, powering sales online, in-store, and everywhere in between. Millions of businesses in 175+ countries use Shopify-from entrepreneurs to brands like Aldo, BarkBox, Carrier, Meta, Vuori, SKIMS, and Supreme.
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